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Blood Collection Tubes Market Dynamics And Opportunities Report By Transparency Market Research

|Includes: Meridian Resource Corp. (TMR)

No matter how large a leap we may take in diagnostics, even the best diagnostic tests fail to deliver accurate results if the biological sample isn't well preserved. This especially applies to blood samples as blood analysis is still an important part of diagnostics. However, it wasn't until the introduction of evacuated blood collection tubes market that several diagnostic processes became faster and more precise. In the years that followed, several improvements have been made to tube materials, the additives used to perform specific functions on blood samples, and the overall design of such tubes.

North America has been at the forefront of several new developments reported in the global blood collection tubes market. According to a Transparency Market Research report, the North America blood collection tubes market is on course to reach a valuation of US$632.1 mn by 2023. The market approximated US$300.8 mn in 2014, the report says.

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Here are the top five highlights of the blood collection tubes market in North America

  • The volume of blood collected in North America every year for medical purposes is staggering. In the United States alone, estimates show that over 18 mn units of blood is transfused annually to treat hematologic diseases.

  • Tests on blood samples are vital to the timely diagnosis of potentially life-threatening diseases such as dengue, thalassemia, and even certain types of cancer. This is causing an uptick in the demand of blood collection tubes.

  • The coverage of several diseases and conditions under new reimbursement plans in the United States has caused a spurt in the number of diagnostic tests conducted here annually, subsequently leading to higher demand for blood collection tubes.

  • By type, the blood collection tubes market can be divided into rapid serum tubes, plasma separating tubes, heparin tubes, serum separating tubes, and other tubes. Of these, North America sees the highest demand for serum separating tubes. Canada and the United States are the two key markets in North America, of which the United States blood collection tubes market generates the highest revenue.

  • There is a growing demand for tubes that are compatible with automated blood collection processes and more advanced screening tests. This is prompting manufacturers to improve the design of their existing products and bring easy-to-use blood collection tubes to the market.

However, the growth of the market will likely be restricted by to some degree by the high cost of investing in sophisticated blood testing equipment. Since the safety mechanism of blood collection tubes is of utmost importance, products with the highest safety specifications will naturally hold a competitive advantage over their counterparts on the market. Some of the leading companies in the North America blood collection tubes market are Becton, Dickinson & Company (U.S.), Sarstedt AG & Co. (Germany), Greiner Group AG (Austria), Terumo Corporation (Japan), QIAGEN N.V. (Germany), and FL Medical srl (OTCPK:ITALY).

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